Nike's new $720 shoe is all about the tech — and it marks a big shift for the brand

Nike is breaking new ground with the HyperAdapt 1.0, its first
self-lacing sneaker for the general public.

The sneakers are pretty slick and easy to use for a
first-generation product, and they're full of promise for things
to come, as I said in
my hands-on review of the shoe.

For most buyers, however, there remains a $720 barrier to
purchase.

Though the shoe is not part of a limited-time collection, it's
being rolled out slowly, in waves, and only in particular stores
in the US. Interested customers need an appointment to test or
purchase the shoe, and stock can be hard to come by depending on
how you time your visit.

Nike says it has seen an "extremely strong response" from
customers interested in the product.

Nike

Though it's not the newest Jordan-branded shoe or a limited-time
collaboration, it's clear who the shoe is targeting with its high
price and limited supply: collectors, according to Matt Powell, a
sports retail analyst at NPD.

"I think the shoe will sell very well," Powell told Business
Insider.

Flight Club, one of the biggest shoe resellers both in New York
City and online, has
noticed that demand for the shoe has been high.

"Since its release, the Nike HyperAdapt 1.0s have sold extremely
well for us," Flight Club spokesman Steven Luna told Business
Insider. "Being the first of its kind, a self-lacing sportswear
shoe, we were certain it would generate much fanfare amongst
sneaker and technology enthusiasts."

According to Flight Club's systematic pricing — which takes into
account pricing history, what people are saying about the product
on social media, and other recognized sale patterns in order to
tell what a shoe is worth — the sneakers are
worth about $4,000 to resellers, depending on the size.

Stadium Goods, another
big name in reselling in New York City, is seeing a high demand
for the shoes as well as "tons of curiosity around how it
functions," according to John McPheters, the founder of the
store.

McPheters theorizes that buyers so far have been motivated by the
technology and rarity of the sneakers, and less so by their
athletic functions.

"I'm doubtful there's a lot of sporting interest in these shoes
at the moment, given that they have a very prototype-y feel,"
McPheters said.

The technology used in the shoes originated from a "what-if"
scenario first dreamed up in "Back to the Future II." That's a
slight deviation from Nike's usual mandate of making the training
or sport experience better for the athlete who wears its shoes.

Once the tech progresses into truly adaptive functions —
constantly tightening and loosening based on the wearer's
movement — that mandate would be fulfilled.

While it is currently available in New York City at the Nike SoHo
store and Nike+ Clubhouse, the shoe will soon have a bit wider
release, as customers will be able to try it on in Los Angeles
and Chicago starting December 20. A new gray color, in addition
to the current black, will also launch that day.

McPheters noted that if or when the shoe enters a wider release
the prices could fall, though the 1.0 will always have the unique
designation of being the first self-lacing sneaker on the market.

The shoe has broader implications for the brand moving forward.
Nike CEO Mark Parker said on
CNBC earlier this year that self-lacing sneakers would be as
big as self-driving cars in the future in terms of mainstream
appeal, application, and pricing.